His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has raised the housing loan limit for Emiratis to AED 1 million.
Taking to his official Twitter handle, Sheikh Mohammed also directed "the immediate allocation of 4,000 plots of land and houses for citizens at a cost of AED 5.2 billion".
اعتمدنا اليوم رفع قيمة القرض السكني للمواطنين في دبي إلى مليون درهم .. ووجهنا بالبدء الفوري لمباشرة تخصيص 4000 قطعة أرض ومسكن للمواطنين بتكلفة 5.2 مليار درهم .. كما ذكرنا سابقاً سأتابع مع حمدان ومكتوم سياسة الإسكان بنفسي خلال الفترة القادمة ..— HH Sheikh Mohammed (@HHShkMohd) September 27, 2021
It comes just days after Sheikh Mohammed approved a housing budget worth AED 65 billion for UAE citizens over the next 20 years.
"Decent housing is a dignity and a right for all. A decent life for the people of the country is the first priority of the government," His Highness had said on Twitter.
. @HHShkMohd: We have approved a housing program for Emirati citizens in Dubai with allocations of AED 65 billion for the programme over the next 20 years & number of beneficiaries will increase 4-fold, with land plots allocated to meet demand for the next 20 years.— Dubai Media Office (@DXBMediaOffice) September 22, 2021